TRADING CALLS FOR 3-2-2017

TRADING CALLS

1. ASIAN PAINTS.

Sell below -981, S/L-990, Target-970/963/953.

2. AUROBINDO PHARMA.

Buy above -693, S/L-688, Target-710/718/720/731.

3. BAJAJ AUTO.

Sell below -2801, S/L-2810, Target-2789/2772/2753/2701.

4. BANK OF BARODA.

Sell near -180-181, S/L-182.60, Target-177/173/170.

5. BHARAT FORGE.

Sell below -964, S/L-970, Target-940/932/926/915. 

6. DIVIS LAB.

Buy above -743, S/L-737, Target-757/772.

7. YES BANK.

Sell below -1381, S/L-1388, Target-1367/1353/1343/1334.

Note: Price stated here is of spot market.

                                 

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Contact me for strategic guidance to enter and exit the trade

  

                     

                   

                               

                                         

                                     

                                        

                                         

                                  

                                        

CNX--BANK NIFTY-A TECHNICAL VIEW 3-2-2017

CNX--BANK NIFTY

Closed at 20070.30 on 2-2-2017(Open-20053.95/High-20145.90/Low-19915.20)

Support:- 19922.70/19816.50/19794.95/19518/19435/19276.50/19096/19059/18961/18824.50/18722.85/18551/18537/18515---18441/18443.65.

Resistance:-20168.35/ 20248/20283/20309.65/20541.65/20575.80/20907.55.

It moved up in a robust way after the presentation of the Union Budget-2017-18 on 1-2-17 and closed with a huge gain and today also it consolidated and closed with a meager gain of 49.70 points. It is showing tremendous strength and is still buy on dip market but extreme alertness is required at this juncture as the range of 20168.35---20248 is very important and crucial to keep the up momentum going.

Please note that it has to move above 20248 and sustain on the closing basis to keep the on-going up momentum intact, if it does so then it may hit a new all time high also but attempting that it will face hurdles at 20440 & 20575.80 points too. So the up journey may not be smooth from here and if it fails to move above 20248 in next 3-4 trading session then this on-going rally may exhaust also and it may go into corrective mode, so be watchful and alert and plan your trade keeping the above range and stiff resistance thereafter in mind.  

Similarly moving down the range of 19794.95---19435.45 is very important. Please note that sustained close below 19794.95 can put it in a corrective mode and break below 19670 & 19435.45 may accelerate the fall.

In view of the above observation long can be tried either on decline near 19794.95 or above 20248 but not now with a stop loss of below 19700 & 20100 respectively. It is not the market for short call now but since  it is just below is critical range of 20168.35—20248 therefore if it fails to cross the said range short call can be attempted near or within the range with a stop loss of above 20320 for taking advantage of corrective move.

Remark: - Technically it is on a good footing and no doubt it is buy on dip market, but at this juncture it is precariously poised with a slight upward bias. Therefore long call can only be tried either near 19794.95 or above 20248 but not below 19794.95 for sure. It would be safe to try long call above 20248 at this point of time. Short call can also be attempted as suggested above. It could be  worth trying.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

                                                                                     

Contact me for strategic guidance to enter and exit the trade.

CNX-NIFTY- A TECHNICAL VIEW -3-2-2017

CNX-NIFTY

Open-8724.75—High-8757.60---Low—8685.80—Close—8734.25 on

3-2-2017

Support:-8672.70/8641/8598.45/8564/8555/8518/8506/8493.95/8476.70/8461.05/8460.30/8400/8373/ 8327/8293.80/8274.95/8223/8210.10/8185/8063.

Resistance: -8736.95/8745.80/8800.65/8806.95/8844.80/8849.75/8893.35/8913.45/8968.70/8996.60/9119.20.

It moved up sharply after the presentation of the Union Budget-2017-18 on 1-2-17 and today also it consolidated and closed with a meager gain of 17.84 points. It is showing tremendous strength and is still buy on dip market but alertness is required at this juncture as the following range is very important and crucial to keep the up momentum going.

MOVING UP

1.8672.70----8754

2. 8830------8874.

Please note that it has to move above 8754 and sustain on the closing basis to keep the on-going up momentum intact and finally it has to move above 8874 and sustain then it may hit a new all time high also but attempting that it will face hurdles at 8940 / 8969 & 9040 points too. So the up journey may not be smooth from here and it may exhaust also at any of these points, so be watchful and alert and plan your trade keeping the above range and stiff resistance thereafter in mind.  

MOVING DOWN

1.8655----8537.50

Please note that sustained close below 8672.70 and then break below 8655 can put it in a corrective mode and break below 8537 may accelerate the down correction. Please note that the long term uptrend will only be threatened if it breaks its long term moving average range which is between 8447—8253(it changes every day).

In view of the above observation long can be tried within the range of 8672.70---8754 or above 8754 but not below 8672 with a stop loss of below 8650 or after a reasonable decline near 8537 and then near 8450 but not below it with a stop loss of below 8400. It is not the market for short call now but it can be attempted if it move and sustain below 8650 with a stop loss of above 8680 for taking advantage of corrective move.

Remark: - Technically it is on a good footing and no doubt it is buy on dip market, but at this juncture it is critical and seems evenly poised with a slight upward bias. Therefore long call can only be tried near 8672.70 or above 8754 but not below 8672.70 for sure. Short call can also be attempted as suggested above. It could be a risky trade but worth trying.

 Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit  trade.

CNX--BANK NIFTY-A TECHNICAL VIEW 31-1-2017

CNX--BANK NIFTY

Closed at 19585.25 on 30-1-2017(Open-19718.80/High-19767.05/Low-19561.10)

Support:-19518/19276.50/19096/19059/18961/18824.50/18722.85/18551/18537/18515---18441/18443.65.

Resistance:-19794.95/19816.50/19922.70/20283/20309.65/20541.65/20575.80/20907.55.

The broad observation remains the same for 31-1-17as it was for 30-1-17(see my post). It corrected today but still holding the downside range of 19700—19450 but if it goes below 19560 and sustain then it could go down further and may break the aforesaid range and then expected to take support at 19276.50, which is the breakout top and break below this can accelerate the fall and the on-going up move may be in danger. Today’s move was slightly shaky and indicates that it could correct further from here. 

 In view of the above  long call can be tried above 19720 with a stop loss of below 19640 or above 19600 with a stop loss of below 19560 or buy on decline near 19276.50 with a stop loss of below 19200. But it would be safe to buy above 19720.

 Although it is not the market for fearless short call, but since it reasonably corrected today and if it falls below 19560 and sustain then it could correct further, so aggressive trader can take contrarian short call below 19560 with a stop loss of above 19600 for a target of 19534/19518/19450/19276.50. It could be a risky trade.

Remark: -It corrected today and it seems that correction may deepen, therefore it would be safe to attempt long call above 19720 but aggressive trader can try on decline too near 19276 but not below it. Short call can be worth trying as suggested above.  

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

                                                                                     

Contact me for strategic guidance to enter and exit the trade.

CNX-NIFTY- A TECHNICAL VIEW -31-1-2017

CNX-NIFTY

Open-8635.55—High-8662.60---Low—8617.75—Close—8632.75 on

30-1-2017

Support:-8598.45/8564/8555/8518/8506/8493.95/8476.70/8461.05/8460.30/8400/8373/ 8327/8293.80/8274.95/8223/8210.10/8185/8063.

Resistance: -8654.75/8672.70/ 8678.75/8728.35/8736.95/8745.80/8800.65/8806.95/8844.80/8849.75/8893.35/8913.45/8968.70/8996.60/9119.20.

The broad observation remains the same for 31-1-17 as it was for 30-1-17(see my post).It moved in a short range today and closed with a meager loss of 8.50 points. It is exhibiting good strength technically but not to forget that since it has retraced more that 61.8% from its major tops and bottoms it may slip into deep correction also, if it fails to cross the important hurdles at 8715/8754/8830/8874 in reasonable period of time. Furthermore in wake of monthly close tomorrow and Union Budget-2017 on 1-2-2017 it could witness huge volatility for next two days; therefore one should be extremely careful in long trade at this point of time.

 It is therefore suggested to try long call above 8652 with a stop loss of below 8600 or above 8673 with a stop loss of below 8630, avoid buy on decline now. It would be safe to buy above 8673 in the entire on-going week. Avoid long trade below 8600 in any case for now.

 Although it is not the market for short call, but since it corrected marginally today and if it fails move above 8636 for some time then it could correct further, so aggressive trader can take contrarian short call near but not above 8636 with a stop loss of above 8675 for a target of 8617/8600/8560. It could be a risky trade but worth trying.

Remark: - Despite small correction today it is still on a good footing and in overall observation it seems that it is evenly poised now with a slight upward bias. Therefore long call can only be tried above 8673 and avoid buy on decline for now. Short call can also be attempted as suggested above but it could be a risky proposition mind you.

 Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit  trade.

CNX--BANK NIFTY-A TECHNICAL VIEW 30-1-2017

CNX--BANK NIFTY

Closed at 19708.30 on 27-1-2017(Open-19588.40/High-19794.95/Low-19534.90)

Support:-19518/19276.50/19096/19059/18961/18824.50/18722.85/18551/18537/18515---18441/18443.65.

Resistance:-19794.95/19816.50/19922.70/20283/20309.65/20541.65/20575.80/20907.55.

It is exhibiting superb strength and in last four days it has moved up by more than 1050 points on intraday basis and 850 points on the closing basis which is phenomenal. But the concerning thing is that is has opened with an up gap for two consecutive days and the gap still exist moreover the gaps are not good for sustained rise and if it makes an attempt to fill the gap in next 2-3 days then it could come down sharply to 19518 and then at 19054 and secondly it has retraced the fall from its recent major top of 20575.60 and bottom of 17606.90 and its all time high top of 20907.55 and recent major bottom of 17606.90 by more than 61.80%, furthermore it is slightly overbought too, therefore it is vulnerable for correction or may be for complete exhaustion at this juncture. Although overall technical parameters are indicating tremendous strength for further up move ahead. So if this on-going up move has to continue and Bank Nifty to hit a new all time high then it has to hold the range of 19700--19450 on the down side similarly moving up it has to cross the major hurdles on the way at 19876/19983/20130/20248 and that too in a reasonable time and sustain above 20248 level, else this on-going up move may get into corrective mode or exhaust completely at any of these points which may please be noted.   

In view of the above observation long trade can be tried above 19710 with a stop loss of below 19640 or above 19795 with a stop loss of below 19700 avoid buy on decline today. It would be safe to buy above 19795 in the entire coming week starting from 30-1-2017. Avoid long trade below 19640 in any case for now.

Remark: -It is exhibiting robust strength but in view of the overall observation it seems that it is evenly poised with an upward bias as of now. Therefore long call can only be tried above 19795 and avoid buy on decline today.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

                                                                                      

Contact me for strategic guidance to enter and exit the trade.

CNX-NIFTY- A TECHNICAL VIEW -30-1-2017

CNX-NIFTY

Open-8610.50—High-8672.70---Low—88606.90—Close—8641.25 on

27-1-2017

Support:-8598.45/8564/8555/8518/8506/8493.95/8476.70/8461.05/8460.30/8400/8373/ 8327/8293.80/8274.95/8223/8210.10/8185/8063.

Resistance: -8654.75/8672.70/ 8678.75/8728.35/8736.95/8745.80/8800.65/8806.95/8844.80/8849.75/8893.35/8913.45/8968.70/8996.60/9119.20.

It opened firmly on a positive note and closed with gain of 38.50 points. It is exhibiting good strength and by all means it is the market for long trade now but with extreme caution because of one major reason that it has retraced the fall from its recent major top of 8968.70 and bottom of 7893.80 and its all time high top of 9119.20 and recent major bottom of 7893.80 by more than 61.80%, furthermore it is slightly overbought too, therefore it is vulnerable for correction or may be for complete exhaustion at this juncture. Although overall technical parameters are indicating tremendous strength for further up move ahead. So if this on-going up move has to continue and Nifty to hit a new all time high then it has to hold the range of 8600-8550 on the down side similarly moving up it has to cross the major hurdles on the way at 8715/8754/8830/8874 and that too in a reasonable time and sustain above 8874 level, else this on-going up move may get into corrective mode or may exhaust completely at any of these points which may please be noted.    

In view of the above observation long trade can be tried above 8652 with a stop loss of below 8600 or above 8673 with a stop loss of below 8640 avoid buy on decline today. It would be safe to buy above 8673 in the entire coming week starting from 30-1-2017. Avoid long trade below 8600 in any case for now.

Remark: -It is exhibiting robust strength but in view of the overall observation it seems that it is evenly poised with an upward bias as of now. Therefore long call can only be tried above 8673 and avoid buy on decline today.

 Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit  trade.

DOW JONES INDUSTRIAL AVG INDEX- A TECHNICAL UPDATE-27-1-2017

DOW JONES INDUSTRIAL AVG INDEX

CLOSED AT: - 20100.91 ON 26-1-2017.

                                                                           

SUPPORT:-

19999—19973/19966.43/19872.86/19762.60/19718.67/19677.94/19623.19/19558.42.

 RESISTANCE:-20230/20300/20530/20680/20905/21050/21300.

(Figures in bold are important)

It is on a very sound technical footing now. It consolidated in the range of 19999.63---19677.94 for quite some time and then given an upside breakout on 25-1-2017 which is good sign and indicates that further rise ahead provided it holds its multiple top breakout range of 19999—19973, then its most critical benchmark points of 19872.86 & 19762.60 for the year 2017 and finally the recent multiple bottom range which is between 19748—19677. So broadly it has bed of support in the range of 19999---19677 and only sustained break below 19677 can put it into a deep corrective mode which may please be noted. But be alert in long trade below the yearly benchmark points also.

It is important to mention here that overall it is the market for the  long trade but be circumspect in fresh long trade below the breakout range of 19999—19973 and avoid long call completely  below its multiple bottom range of 19748--19677. In view of this observation it seems prudent that long call can be tried above or within the breakout range of 19999—19973 with a stop loss of below 19920 and then near or within the multiple bottom range of 19748—19677 but not below 19677 with a stop loss of below 19620. But I once again repeat that it would be safe to try long call above the breakout range of 19999—19973 only.   

     

 Kindly note that as it is in uncharted territory now therefore the upside target could be 20230/20300/20530/20680/20905/21050/21300 based on Fibonacci Retracement Points and up channel resistance points.

 REMARKS: - Technically it is tremendously strong at this point of time and no doubt it the market for long trade, but it is suggested to try long call above the breakout range of 19999—19973 only at this point of time.  

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

CNX-NIFTY- A TECHNICAL VIEW -27-1-2017

CNX-NIFTY

Open-8499.45—High-8612.60---Low—8493.95—Close—8602.75 on

25-1-2017

Support:-8598.45/8558/8518/8506/8493.95/8476.70/8461.05/8460.30/8428/8373/8349.35/8340.95/ 8322.25/8293.80/8274.95/8223/8210.10/8185/8063.

Resistance: - 8678.75/8728.35/8736.95/8806.95/8844/8893.35/8968.70/8996.60/9119.20.

It opened with a small up gap and did not make any effort to fill the gap and gave a robust up move and closed with a gain of 126.95 points and near the high of the day, it also crossed its first tough resistance range effortlessly which was between 8488—8600(see my post for 25-1-2017), which shows tremendous strength in it and indicates further rise ahead. Please note that 8600 will act as good support now and it has to sustain above it for the on-going up move to continue.    

Although it is exhibiting huge strength technically but the concerning part is today’s gap which it did not fill and if it attempts to fill the gap in next 2-3 days, which is technically possible then it could come down to 8480 level, secondly it has retraced more than 61.80% (8558.08) from its recent major top of 8968.70 and bottom of 7398.80. So this rally may exhaust here also but if this rally has to move on it has to cross 8791 level and sustain or else it may fizzle out around this level or earlier. Moving up from here it will face resistance in between also at 8678.75/8715/8754/ points, which may please be noted. So, overall no doubt that the market is for long trade now but looking at the volatility and wild movement trade should be handled with extreme caution.

In view of the above observation long trade can be tried above 8603 with a stop loss of below 8540 or buy on decline near 8480--62 but not below it with a stop loss of below 8400. It would be safe to buy above 8603 on 27-1-2017.

Please note that if it opens with an up gap on 27-1-2017 i.e. above 8612.60 then wait for some time to initiate long trade because it may fill the days gap, and if it does and sustain above 8603 then one can initiate long trade but the aggressive trader can initiate long trade even on the gap up opening with a stop loss of below 8580(it could be slightly risky trade). It is important to mention here that continuous gap up opening speaks of good strength but are not that safe always for sustained rise. It is therefore suggested to handle your trade very vigilantly in case of gap up opening.     

Remark: -It is exhibiting robust strength but in view of the overall observation it seems that it is evenly poised with an upward bias as of now. Therefore long call can only be tried above 8603 and avoid buy on decline today.

 Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit  trade.

TRADING CALLS FOR 27-1-2017

TRADING CALLS

1. ADANI PORT.

Buy above -306.10, S/L-304, Target-309.70/317/331.

2. AMBUJA CEMENTS.

Buy above -230, S/L-228.50, Target-236/241.50/245.

3. ASHOK LEYLAND.

Sell below -86.30, S/L-87.10, Target-85.25/84.30/83.35/82.70.

4. AUROBINDO PHARMA.

Sell below -704, S/L-707, Target-698/680/678/667/645.

5. BAJAJ AUTO.

Buy above -2850, S/L-2840, Target-2866/2875/2907/2918/2958.

6. BEL.

Sell below -1509, S/L-1515, Target-1482/1472/1455/. 

7. SUN PHARMA.

Sell below -634, S/L-637, Target-632/627/611.85/595.

Note: Price stated here is of spot market.

                                  

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Contact me for strategic guidance to enter and exit the trade